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Lower student loan payments →
Pay off high-interest debt →
Plan for school →
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Lower your monthly student loan payments
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From the Earnest Blog
Things to consider before refinancing
Pay off high-interest debt
Start with a plan to take control of your debt
Get a free personalized plan3 with straightforward steps to pay it off and provide key insights like which debt to pay off first, strategies to help you achieve your financial goals, and more.
Learn more about what debt-to-income is and how it could be affecting your path to wealth
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Tackle high interest rates
Average credit card rates make it difficult to get out from under high-interest debt. A personal loan can help you consolidate multiple payments into one, at a potentially lower rate. Even small decreases in your interest rate could mean thousands in savings over the life of the loan.
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† Average credit card annual percentage rates (APR) are accurate as of the Federal Reserve G.19 release on 04/07/2026 (reflecting data from February 2026). Source: https://www.federalreserve.gov/releases/g19/current/
‡ Example chart reflects a 7-year Earnest Personal Loan with a fixed rate of 14% APR (the mid-range of rates as of April 2026). Earnest Personal Loans are subject to credit approval; available rates are subject to change and exclude any discounts. The 'High-Interest Rate Credit Card' APR of 21.52% is the average rate reported for February 2026. Savings estimates assume you make all payments on time as scheduled for 84 months, without taking on additional credit card debt. The calculation also assumes no origination fees or early prepayments.
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Plan for school
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From the Earnest Blog
What to know before you borrow
Federal vs. private student loans: what’s the difference?
Pros of private student loans
Higher borrowing limits
Lower rates based on creditworthiness
More repayment options
Available to international students
Cons of private student loans
Stricter requirements
Not required to have hardship options
Pros of federal student loans
No credit check
Access to income-driven repayment plans
Eligibility for federal forgiveness programs (PSLF)
Cons of federal student loans
Borrowing limits
Direct subsidized loans are based on financial need
Origination fees may apply
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The resources provided present personal finance educational information, and are not intended to provide legal, financial, or tax advice.
Earnest Private Student Loans are subject to credit approval.
Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
1 Choosing to refinance to a longer term may lower your monthly payment, but increase the amount of interest you may pay. Choosing to refinance to a shorter term may increase your monthly payment, but lower the amount of interest you may pay. Review your loan documentation for the total cost of your refinanced loan.
2 Please note that you will lose benefits associated with your underlying federal loans, such as federal Income-driven Repayment Plans, Economic Hardship Deferment, Public Service Loan Forgiveness, or other deferment and forbearance options, if you refinance into a private loan. If you file for bankruptcy, you may still be required to pay back this loan.
3 Payoff Path is offered by Earnest, and earning or applying benefits (if any) depends on eligibility, your financial profile, and applicable policies. Terms and conditions apply; see Earnest’s Terms of Use and Privacy Policy for full details. Offers, features, and availability are subject to change without notice.
last updated: 10/20/2026